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FOR SALE FREEHOLD PROPERTY WITH RECENT OUTLINE PLANNING PERMISSION FOR ADDITIONAL FLOORS

Unique Building, Main Street – Freehold Interest to be sold with Two Commercial Shop Leases and Vacant Residental upper floors. The property has just been granted Outline Planning Permission for an additional two levels to include terrace. Ground floor: Commercial 93.9m2, Residential 29.4m2 ,Total net area: 123.3m2. 1st floor: Residential – a 3 bedroom apartment – Total net area 121m2 plus Patio 8.2m2. 2nd floor:(level 1) Residential duplex 3 bedroom apartment -Total net area 106.6m2 plus. 3rd floor:( level 2 ) Residential Internal 39.3m2 plus Roof terrace 60.7m2 – Total net area: 113.8m2
Summary : Commercial net area – 93.9m2 , Residential net area – 370.80m2
Location:The property is located in a most prominent location at the entrance to the Main commercial street of Gibraltar know “Main Street”. Main Street is a pedestrianised street and attracts thousands of daily visitors from neighbouring Spain and Portugal and is the main retail area.


There are two retail outlets on the ground floor:

Approx. 80m2 – this retail unit has a current lease effective from 14th July 2009 for a 9 year term with rent reviews every 3 years.

Approx. 16m2 – this retail unit has a current lease from 1st January 2016 for a 9 year term with rent reviews every 3 years.

The residential floors are currently divided into two separate apartments and are occupied by the Landlords but will be sold with full vacant possession.

1st floor comprise: 3 bedrooms, bathroom, kitchen, living/dining room, external patio

2nd& 3rdfloor duplex comprise: Lower floor: – 2 bedrooms, dining room, kitchen, bathroom and sitting room. Upper floor: – bedroom, toilet, external store room and roof terrace.


Free Hold Building, Commercial net area 93.9 m2 , Residential net area 370.80 m2, Outlined Planning Permission

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Savills Gibraltar